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Soar Inc. enters into the following transactions: Stockholders contribute $10,500 cash to a company in exchange for common stock. The company purchases $5,250 to buy

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Soar Inc. enters into the following transactions: Stockholders contribute $10,500 cash to a company in exchange for common stock. The company purchases $5,250 to buy new equipment by paying cash. The company pays $3,050 to suppliers on account. Show the effect of these transactions on the basic accounting equation. (Enter any decreases to account balances with a minus sign.)

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